According to information from Wal-Mart China, the company has appointed Zhu Xiaojing as president and CEO, effective on May 8, 2020.
Meanwhile, current president and CEO Chen Wenyuan will resign for personal reason and return to his family in Singapore.
Public files show that Zhu holds an MBA from Business School of Columbia University and she previously worked for companies like Honeywell, McKinsey & Company, and Fonterra. Before joining Wal-Mart, Zhu was president of Fonterra Greater China, fully leading the company's consumer brand, food and beverage service, strategic client, and pasture businesses in mainland China, Hong Kong and Taiwan.
Wal-Mart's global executive vice president and global procurement and Asia CEO Dirk Van den Berghe said that Zhu made outstanding contributions to the overall business development of Fonterra. In addition, she led Fonterra in achieving the best employer brand, which is in line with the value of Wal-Mart.
Current Wal-Mart China president and CEO Chen Wenyuan will formally step down from the positions on June 15, 2020. Chen joined Wal-Mart in 2017 and he led the business expansion of Wal-Mart and Sam's Club in China. On March 1, 2018, he was formally promoted to Wal-Mart China president and CEO.